5 characteristics of the new retail industry

In recent years, the wind of new retail has blown all over China, setting off huge waves in the retail industry. New formats such as unmanned convenience stores and super species have been discussed at a phenomenal level. Whether it is offline convenience store chains, supermarkets or online companies, they are all exploring the layout of new retail. Unmanned convenience stores, as well as vending machines and unmanned shelves have become the main form of unmanned new retail. According to data, the transaction scale of the unmanned new retail market (including vending machines) is conservatively estimated to be close to 20 billion yuan in 2017, and is expected to exceed 65 billion yuan in 2020, with a three-year compound growth rate of around 50%. So what are the characteristics of new retail? Channel integration At present, consumers appear in various retail channels such as physical stores, unmanned convenience stores, e-commerce platforms, food delivery platforms, micro stores and live broadcast channels anytime and anywhere. Retailers not only need to create a variety of sales venues, but also must realize the deep closure of multi-channel sales scenarios in order to meet customers' needs to buy as much as they want. Digitalization of operations The goal of today's business transformation is to bring everything online, move various behaviors and scenarios online through digitization, and then realize the integration of online and offline. The digitization of the new retail industry includes digitization of customers, digitization of products, digitization of marketing, digitization of transactions, and digitization of management. Smart stores In the era of big data, it is inevitable for everything to be smart. Intelligent stores and unmanned convenience stores can improve customer interaction experience and shopping efficiency, increase multi-dimensional retail data, and apply big data analysis results to actual retail scenarios. In the retail industry, after the digital transformation of merchants, the process of intelligentization of stores will gradually accelerate, but the pursuit of intelligentization without digitalization as the basis may only create“vase project. Commodity socialization When we go to physical stores and convenience stores to shop, we feel that there are so many products in the stores that we can’t buy them all. When new retail digitizes customers, customers will feel that your store has few items and categories when they shop online instead of going to your physical store. This is the challenge to category management in the new retail era, which requires merchants to restructure the supply chain to solve it. Intelligent logistics Traditional retail can only go to the store for consumption, take it now and sell it now. New retail requires customers to be able to buy goods all-weather, all channels, and all time, and can realize self-pickup at the store, intra-city delivery, express delivery, etc. It is necessary to connect with the third-party intelligent distribution and logistics system, so as to shorten the distribution cycle and destock. At present, the tie-up of convenience stores and new retail has been repeatedly mentioned. Unmanned convenience stores have become a dazzling new star in the retail industry because of new technologies and new experiences. Unmanned convenience stores are also an attempt at new retailing. Retail data that has not been collected offline are connected with user information through smart or IoT devices to make the data more complete and effective. In the overall decline of the retail industry, offline retail is either seeking transformation or going online. The growth of convenience stores against the trend is very commendable, and it is also regarded as the hope of the retail industry in the next few years. The transformation to modern convenience stores is also a small retail industry. The inevitable trend of the industry.

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